The Chilean mining company also closed one of the plants at the Coya Sur site, where nitrate is produced.

The mining company SQM dismissed at least 230 workers who belonged to the division in charge of iodine extraction.

According to information published by Diario Financiero, this occurred in related offices located in the Antofagasta region.

In addition, it closed one of the plants at the Coya Sur site, where nitrate is produced.

Those affected would have taken advantage of retirement plans, which considered bonuses, the payment of additional salaries, among other benefits.

On its website, SQM highlighted that it produces iodine and organic and inorganic derivatives of the mineral. The latter, through a joint venture with Ajay Chemicals.

The company is present in the iodine recycling business in Europe, the United States and Asia.

Diario Financiero mentioned that between this year and 2025, the mining company plans to invest close to US$700 million in iodine and nitrates.

“Iodine is used in various medical, agricultural and industrial applications. It constitutes the main component of injectable contrast media for clinical examinations, and is used directly in the production of various drugs,” SMQ mentioned in this regard on its website.

He added that in the industrial area, iodine is used in various applications, "among which we can mention disinfectants for the dairy industry, biocides for paints and wood treatments, herbicides, etc."